Ord 1986-125 - Laserfiche WebLink

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THE PRINCIPAL of this Bond is payable at the principal corporate office of the Paying Agent/Registrar executing the registration certificate appearing hereon, upon presentation and surrender of this Bond. The interest on this Bond payable on any interest payment date will be paid to the person in whose name this Bond (or one or more Predecessor Bonds) is registered at the close of business on the Record Date for such interest payment which shall be the 15th day of the month next preceding such interest payment date; provided, however, that in the event of nonpayment of interest on a scheduled interest payment date, and for 30 days thereafter, a new record date for such interest payment (the "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest (the "Special Payment Date", which shall be 15 days after the Special Record Date) shall be sent at least 5 business days prior to the Special Record Date by United States mail, first class postage prepaid, to the address of each Holder of a Bond appearing on the books of the Paying Agent/Registrar at the close of business on the last business day preceding the date of mailing such notice. All payments of principal of, premium, if any, and interest on this Bond shall be in lawful money of the United States of America and shall be made by the Paying Agent/Registrar by check sent on or prior to the appropriate date of payment, by United States mail, first class postage prepaid, to the registered owner hereof on the applicable rates specified, at the address appearing on the Registration Books, or by such other method acceptable to the Paying Agent/Registrar requested by the registered owner at the Holder's risk and expense. If a date for the payment of the principal of or interest on this Bond is a Saturday, Sunday, legal holiday, or a day on which banking institutions in the city in which the Paying Agent/Registrar is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday, or day on which such banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. THE BONDS scheduled to mature on and after November 1, 1997, shall be subject to redemption prior to maturity, at the option of the City, on November 1, 1996, or on any interest payment date thereafter, as a whole or in part, in principal amounts of $5,000 or any integral multiple thereof (and if within a Stated Maturity at random and by lot by the Paying Agent/Registrar), at the respective redemption prices (expressed as percentages of the principal amount of the Bonds or portions thereof to be redeemed) set forth below: Period (both dates inclusive) Redemption Price November 1, 1996 through October 31, 1997 November 1, 1997 through October 31, 1998 November 1, 1998 and thereafter 102% 101% 100% plus accrued interest to the date of redemption. 1037f -9-